Congressal chaos happening now. Submitting the resignation and the exit strategy is causing controversy. As we begin severe storms head our way and storms causing major problems in the midwest. Right now severe storms in the chicago area and viewer pictures with funnel clouds and flooded roads as well. This is all from a line of storms thats headed our way. Here is a live look at the conditions in the chicago area. You can see right there how wet the roads are. Rain still coming down in the area, and its going to be quit a while before this is cleared out. Some lightening in the clouds as well with. That same line of storms is heading our way. Lets bring in she that, and what kind of impact are we going to see from this . Well, we could see a round of storms and possibly later in the day. We could see an area of o storms moving in and its the severe storm threat and the best chance of that is the area shown in yellow here and thats in philadelphia south jersey and delaware and lower us
Chance coming up. Nbc 10 in south philadelphia students left classes at their normal time today. But for students all over the city, their weekend will start early tomorrow, thanks to this unusually hot weather. My girls are in high school. So im not as worried. But i cant imagine it might be difficult for the parents whose kids are a lot younger. Reporter the heat doesnt seem to bother kim chung or her two daughters who attend high school in spring garden. They tell me they survived. I came to get my daughter out of school because theyre calling for a heat index of 110 degrees. Reporter his daughter is a sophomore in south philly. Youve got health concerns, you also have the fact when its warm, people want to go to sleep. That includes kids. Reporter the Philadelphia School district tells me almost 60 of the schools have air conditioning, and ones that dont have plenty of fans and water available. Tomorrows early dismissal at noon will allow students to stay cool in the comfort of the
Cj a german shorthaired pointer. Rng good morning everybody thanks for being with us im kerry drew in for juliet. Juliet is suffering from the flu and bronchitis we told her to get a flu shot. Mike you and i have got it, it is not ive had it. Yeah. You dont wish that on anybody. I didnt. Seriously know if i was going to make it. This feels like its it. But its true. A lot of people i know with this weather roller coster a lot of sickness going around. Now on the down swing in terms it have temperatures back to normal after all of that big rain and wednesday that we had yesterday. Peekskill half inch, and upton out in eastern long island, about three quarters of and a inch of rain that keam down hard with a lot of wind to deal with here too. Wind on average gusting up to around 50 to 55 Miles Per Hour as that line came by. Doing damage here. 56 Miles Per Hour wind out at the state kings park. 54 and 55 out at jfk. Yeah thats now a thing of the past. Snow conditions pop up there on the s
Kind of like whenever. Maybe its the breed. Mike keeps getting me look. You criticize the dog and i am ben simmoneau. Carrie i am in for juliet huddy i am carrie drew. The dog is probably coming later on. We have seen some beautiful dogs. I feel like this one is just okay. This one is very close cut. The first of i ever had was a german short here. Was all brown. At least he had on it they are hunting dogs. It was a boring dog. You know whats funny . Husband name is max. [laughter] i dont know how i feel about that. Wow you can attack him now if youd like. Here she comes [laughter] lets tell you whats going on out there. Bring tunnels from yesterday it was pretty bad. We had 1. 71 inches of rain in danbury and look what she does. She sets it up. Central park is an inch andahalf and you saw three quarters of an inch of rain with a significant storm and a good amount of wind. Look at the gust. Its in central park. Temperatures came down 100 from what we had yesterday at the same time was
Context of maximum employment. Given the highly uncertain nature of the outlook, one might ask, why not hold off raising the federal funds rate until the economy has reached full employment and inflation is actually back at 2 . The difficulty with this strategy is that Monetary Policy affects real activity and inflation with a substantial lag. Were to delay the start of the policy normalization process for too long, we would likely in that having to tighten policy relatively abruptly to keep the economy from significantly overshooting both of our goals. And an abrupt tightening perhaps inadvertently pushing the economy into recession. In addition, continuing to hold shortterm Interest Rates near zero will after real activity has returned to normal and headwinds of faded could encourage excessive leverage in other forms of inappropriate risk taking that might undermine financial stability. For these reasons, the more prudent strategy is to begin tightening in a timely fashion and at a g